Nokia 2003 Annual Report Download - page 168
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Notes to the Consolidated Financial Statements (Continued)
36. Differences between International Accounting Standards and U.S. Generally Accepted
Accounting Principles (Continued)
For its single-employer defined benefit pension schemes, net periodic pension cost included in the
Group’s U.S. GAAP net income for the years ended December 31, 2003, 2002 and 2001, includes the
following components:
2003 2002 2001
EURm EURm EURm
Service cost—benefits earned during the year(1) ........................ 54 58 49
Interest on projected benefit obligation .............................. 46 47 40
Expected return on assets ......................................... (55) (60) (74)
Amortization of prior service cost ................................... 212 2
Recognized net actuarial loss ...................................... 1— (21)
Amortization of transition asset .................................... 112
Curtailment .................................................... 14 (1)
Net periodic pension cost (income) .................................. 50 62 (3)
(1) Excludes premiums associated with pooled benefits.
The following table sets forth the changes in the benefit obligation and fair value of plan assets
during the year and the funded status of the significant defined benefit pension plans showing the
amounts that would be recognized in the Group’s consolidated balance sheet in accordance with
U.S. GAAP at December 31:
2003 2002
Domestic Foreign Domestic Foreign
plans plans plans plans
EURm EURm
Projected benefit obligation at beginning of year .......... (539) (261) (531) (236)
Remeasurement .................................... — (52) ——
Foreign exchange ................................... —6—2
Service cost ........................................ (37) (17) (47) (11)
Interest on projected benefit obligation .................. (31) (14) (33) (14)
Plan participants’ contributions ........................ —(3)— (3)
Amendments ....................................... ——— (11)
Actuarial gain (loss) ................................. (76) (9) 65 4
Curtailment ........................................ 10 — ——
Benefits paid ....................................... 7778
Projected benefit obligation at end of year ............... (666) (343) (539) (261)
F-59